ERIC BALCHUNAS SAYS ETH SPOT ETFS HAS A ZERO% CHANCE OF APPROVAL
"The chances of approval of spot ETFs for $ETH are zero"
Eric Balchunas, Senior Analyst at Bloomberg Intelligence, believes that the probability of the US Securities and Exchange Commission (SEC) approving spot ether ETFs is practically zero.
Eric Balchunas praised securities lawyer Scott Jonhsson, who believes the SEC is examining the legal basis for denying applications for spot ether ETFs.
For his part, Eric Balchunas said the regulator is considering a denial on the grounds that the applications were improperly filed because the instruments' shares are securities and not exchange-traded commodities
"The chances of spot ETFs for ether being approved are practically zero," Balchunas claimed.
The analyst recalled that in May the regulator had already postponed a decision on a spot product from Invesco and Galaxy, and on April 23 postponed consideration of an application from Franklin Templeton with a deadline of June 11.
